Monday, June 16, 2014

SanDisk agreed to acquire Fusion-io (NYSE: FIO), a leading developer of flash-based PCIe hardware and software solutions, for approximately $1.1 billion, net of cash assumed.
Fusion-io, which is based in Salt Lake City, generated sales of $432 million in 2013 for its NAND Flash-based storage arrays for data centers. The Fusion-io software creates a virtual storage layer that enables file systems, volume managers, and applications to access flash through a common block interface. The company was founded in 2005 and has about 875 employees.
SanDisk, which is based in Milpitas, California, has been a storage leader for over 25 years.

“Fusion-io will accelerate our efforts to enable the flash-transformed data center, helping companies better manage increasingly heavy data workloads at a lower total cost of ownership,” said Sanjay Mehrotra, SanDisk president and CEO. “Customers will benefit from the addition of Fusion-io’s leading PCIe solutions to SanDisk’s vertically integrated business model. We look forward to working with the world-class engineering and go-to-market teams from Fusion-io to provide high-value solutions to customers around the world.”

“This transaction represents a compelling opportunity for Fusion-io’s employees, customers and shareholders,” said Shane Robison, chairman and CEO of Fusion-io. “Fusion-io’s innovative hardware and software solutions will be augmented by SanDisk’s worldwide scale and vertical integration, enabling a combined company that can offer an even more compelling value proposition for customers and partners.”